Real Estate Bubble

 After more than 15 years as a licensed real estate agent in New York State, I have witnessed situations where homeowners seemed to maximize their sales prices while at other times achieving much - less satisfactory results! The reality is that marketing and selling a home effectively, successfully, requires time-tested, timely, thoughtful strategies, and often hiring the best, real estate professional for your specific needs and priorities! A well-thought-out strategy requires several factors and considerations, from the outset in a wise and effective manner. With that in mind, this article will attempt to briefly consider, research and review 6 specific keys to significantly wiser home selling strategies.

1. Start with a competitive market analysis (CMA) that is professionally designed and created: Instead of basing your asking price (the price you are offering, the home for sale, the market) on emotion, greed, or overly rosy predictions, the best the way to do this is to use a competitive market analysis that professionally considers what similar homes are selling for in a specific local real estate / housing market ! This should indicate the range of prices, based on reality, economic considerations and competition!

2. Current market conditions: When comparing sales prices, it is essential to look at very recent transactions and events, sold prices, not just what was offered / listed at! Furthermore, is the local market, seller, buyer or neutral? Hire a Realtor to make you the best you can be - informed, consumer and seller!

3. Property specifics: How does a particular house and property compare to similar ones in the local region? What characteristics make this house more or less attractive and valuable? Are the style, room size and overall condition more or less desirable? How about curb appeal? When potential, qualified buyers view and/or drive by the property, does it attract them in a positive, compelling way?

4. Supply and demand: Current supply and demand, impacts, quotes and sale price! When condo inventory exceeds demand, it's a buyer's market and the competition for qualified potential buyers is up! When the opposite happens, we often see significant price increases! When it is somewhere in between, it is a neutral set of conditions and a specific, well thought out and designed plan is essential!

5. Buyer Perception: It is often buyers' perceptions, positive or negative, that determine how a particular property will perform relative to others! Why do you think sellers spend to set up a home to help sell it for the highest possible price in the shortest amount of time?

6. Mortgage Interest Rates: In the last few years we have experienced record or near record low mortgage interest rates for a significant period of time! Because this allows individuals to qualify for larger amounts of money (borrow) and afford lower monthly payments, it creates rising prices as buyers feel they can get more – for the money! However, this is often somewhat uneven, as each property does not rise at the same rate!

If you are considering selling your home, hire an agent to consider and explain how best to use these 6 keys, as well as other relevant ones, and how it could benefit you! Since for most, the value of their home is their single largest asset, doesn't that make sense?

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http://www.rescommarketing.com:/